By Lauren Hirsch | NEW YORK NEW YORK Snap Inc’s (SNAP.N) shares continued to defy doubts about the company’s early-stage business model and slowing user growth, jumping nearly 50 percent in their first day of trading on the New York Stock Exchange. The owner of the Snapchat messaging app raised $3.4 billion in its initial public offering on Wednesday night, more than the $3 billion Facebook (FB.O) […]
The US broke its long drought of hot technology initial public offerings on Thursday as shares in Snap soared more than 40 per cent in their market debut despite questions about corporate governance and profitability at the owner of vanishing messaging service Snapchat. A pack of traders huddled around the desk of Snap’s designated market maker for more than an hour after the opening bell at the […]
Government of Dubai Media Office – 2 March 2017 The jury of the Dubai Canvas 3D Art Award will be looking for exceptional creativity, technique and style in its evaluation of the 25 artworks shortlisted for the Award. The shortlisted works are being displayed at the Dubai Canvas 3D Art Festival 2017, which began in City Walk on Sunday. The Award and Festival are organised by Brand […]
The Fitbit Blaze The wearables market is under constant scrutiny for its growth potential, but despite a few moments of uncertainty, 2016 turned out to be a blockbuster year for the category overall. According to the latest data from IDC, Wearable shipments globally hit an all-time high of 33.9 million units in Q4 2016, an increase of nearly 17 percent year over year. Shipments for the entire […]
Via Charles Hugh-Smith of OfTwoMinds blog, This is precisely what you’d expect of a self-serving elite that was desperate to cloak the unhappy reality that the relative few are benefiting immensely at the expense of the many. The core narrative of politics everywhere is progress, i.e. “moving forward.” If progress isn’t being made, politicos and the system are failing. In the past, “progressive” movements sought to advance […]
Image: Nv/EPA/REX/Shutterstock By Manish Singh2017-03-02 07:24:14 -0500 India’s major IT firms have long required their employees to give a three-month, “non-negotiable” notice before leaving the company, but they could be soon forced to change that. Fed-up IT professionals from across India have reached out to the government, complaining that it is “unrealistic” for anyone to plan that far ahead. Over 28,000 professionals have signed a petition, […]
March 2, 2017 by: Nic Fildes, Telecoms Correspondent Deutsche Telekom has taken a €2.2bn charge on its investment in BT, pushing the German group to a fourth-quarter loss in 2016. Europe’s largest telecoms company blamed the Brexit vote, a decline in the value of sterling and the collapse in BT’s share price for the write-off. It holds a 12 per cent stake in BT which has been […]
By John Ruwitch | SHANGHAI SHANGHAI The fortunes of the richest 100 members of China’s parliament and its advisory body – all dollar billionaires – grew about 64 percent in the four years since Xi Jinping rose to power, according to data from an organisation tracking wealth in China. Xi has overseen a crackdown on corruption and decadence, and made the fight against poverty a top priority […]
The Bank of Japan published detailed schedules of planned asset purchases for the first time on Tuesday as it seeks to prove its commitment to a zero per cent cap on 10-year government bond yields. Japan’s central bank said it will buy a minimum of ¥1.375tn and a maximum of ¥2.175tn of government bonds during March, giving a series of dates and estimated sizes for its planned […]
The federal government has announced that the Australian Signals Directorate (ASD) will be receiving critical infrastructure upgrades at two of its national security facilities in Canberra. The AU$75 million upgrades to the intelligence agency will be funded under the Defence Integrated Investment Program, Minister for Defence Personnel Dan Tehan said on Thursday. “The ASD is essential to Australia’s national security and these improvements will help keep Australians […]
/By Arabian Post Staff/ The success of DIFC and DMCC has inspired a US-based group to recreate the model in the western hemisphere. The C-MCC Development Group LLC, a US-based development group, announced that it will establish the C-MCC Worldwide Free Trade Zone on Curacao island, patterned after the successful Dubai Multi Commodities Centre (DMCC) and the Dubai International Financial Centre (DIFC) located in the United Arab […]
Cheung Kong Infrastructure and Fosun International are among several Asian groups that have submitted bids for Q-Park, one of Europe’s largest parking lot operators, in a deal that could fetch more than $2.4bn. China Oceanwide, a Beijing-based conglomerate owned by a billionaire banking magnate, and Shougang Group, a state-owned Chinese steel company, also joined the first round of bidding on the Netherlands-based parking group, two people familiar […]
T Rowe Price’s flagship small companies fund has revealed annualised returns of nearly 35 per cent from its private investments, rebutting critics who argue that mutual funds should eschew riskier, unlisted companies. With more companies delaying stock exchange listings due to the abundance of venture capital and onerous requirements of being a public company, asset managers have begun to invest more aggressively in private groups such as Uber and […]
Superloop has expanded its high-speed intercapital colocation network with a new point of presence (PoP) at NextDC’s C1 datacentre in Canberra. The addition of C1 connectivity sees the Asia-Pacific fibre infrastructure company complete its national footprint through NextDC, with connections already at the latter’s datacentres in Brisbane, Sydney, Melbourne, and Perth. According to Superloop, the nationwide deployment of capital city infrastructure gives the company the ability to […]
BOSTON An investor committee that advises the U.S. Securities and Exchange Commission will next week review if Snap Inc’s decision to deny shareholders voting rights might also reduce the social media company’s public disclosures on executive pay and other governance matters, the head of that committee told Reuters on Wednesday. Snap, the parent of the popular messaging app Snapchat, priced its eagerly awaited initial public offering at […]
A storming start for risk assets has defined the first two months of 2017, with heightened optimism on Wall Street pushing the FTSE All-World equity index into record territory. Whether the rally can be sustained in March depends on the outcome of several key events. Here is a rundown of what looms for investors during the month. US jobs data and the Federal Reserve The bullish sentiment […]
Wednesday 16:30 GMT Overview Wall Street surged to another record as comments from Federal Reserve officials caused traders to boost their bets for an increase in US interest rates this month and investors celebrated a more upbeat tone from Donald Trump in his first address to Congress. In keeping with he risk-on mood that washed across financial markets around the globe, the dollar also rose and gold […]
In investment as in life, what goes unsaid is often more important than what is said. Long-term watchers of the Federal Reserve know to look at every last word of every statement from a Fed governor — which is why a succession of Fed speeches and interviews on Monday and Tuesday were taken as doubling the chances that the central bank raises US interest rates at its […]
The high profile event will showcase a wide range of real estate opportunities with Al Bandary Real Estate and Ezdan Real Estate amongst the top local companies exhibiting Doha, Qatar: March 01, 2017 Cityscape Qatar 2017, the largest real estate development and investment exhibition in the State of Qatar, welcomes this year a large number of leading local and international exhibitors to participate in its sixth edition, […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. consumer spending rose less than expected in January as the largest monthly increase in inflation in four years eroded households’ purchasing power, pointing to moderate economic growth in the first quarter. The surge in inflation raises the possibility of an interest rate increase from the Federal Reserve this month. While still below the U.S. central bank’s 2 percent target, inflation […]
The US dollar and global bond yields rose on Wednesday as investors focused on expectations that the Federal Reserve wants to raise interest rates this month, in the absence of specific policy details from Donald Trump’s first speech to Congress. The dollar index — a measure of the reserve currency against its main peers — rose 0.5 per cent to its highest level in more than a […]
Wednesday 09:30 GMT Overview The dollar and government bond yields are jumping, and gold is falling, as hawkish comments from Federal Reserve officials cause traders to drastically shorten the odds of an increase in US interest rates this month. Meanwhile, US equity index futures point to another record on Wall Street, tracking gains in Europe and Asia, after Donald Trump addressed Congress for the first time, with […]
UK government The UK government has outlined plans for a post-Brexit digital strategy to move technology to the heart of the country. On Wednesday, the government announced the launch of the Digital Strategy, which promises to place “skills, infrastructure and innovation” at the forefront to support “Britain’s world-leading digital economy.” The government claims over four million free digital skills training courses will be created through the scheme. […]
Shortly after breaking the Panama Papers, an international exclusive that shed light on illegal offshore banking around the globe, the International Consortium of Investigative Journalists should have been riding high. Instead, the scrappy cross-border investigative team was facing the dreary prospect of laying staffers off due to a financial squeeze at its parent organization, the Center for Public Integrity. “I did feel a little deflated,” said Gerard […]
